Hi
If a individual, whose taxble amount is Rs. 3,000/- how much he/she should pay as interest along with income tax.
PRANAV MISHRA
(CA Final student)
(573 Points)
Replied 26 September 2008
Hi Indrajit
Pls clarify whether Rs 3000 is tax payable or taxable amount .If the taxable amount is Rs 3000 then no interest is payable bcoz there is no tax liability.But if tax payable is Rs 3000 then @ 1%pm.
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